IT IS FINISHED: Twitter Formally Accepts Elon Musk's Takeover Bid

As I looked through Twitter this morning, it was apparent that everyone was holding their breath about something. Even after refreshing several times, the same tweets about not much kept appearing. It was only after I saw this tweet, that I came to understand:

Twitter is reportedly accepting the offer Elon Musk made. We’re about to see a Nov 2016 level freak out from the left.

— Robby Starbuck (@robbystarbuck) April 25, 2022

As RedState has reported, Musk has had his sights set on Twitter, and last week began making moves to acquire the social media platform. The legacy media and the radical Left—but I repeat myself—did their level best to make him look like Dr. Evil squared, and the Twitter board did all they could to block him, even tanking its own stock instead of accepting Musk’s offer.

Despite their best efforts, Musk simply bided his time, and got his ducks in a row. After all the hue and cry, the Twitter board beat their swords into ploughshares and their spears into pruning hooks, then bent over, accepting the inevitable.

Now, it’s done. Much faster than any of us thought:

🚨INBOX: Twitter announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion.

— Lauren Peikoff (@laurenpeikoff) April 25, 2022

From PR Newswire:

SAN FRANCISCO, April 25, 2022 /PRNewswire/ — Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.

Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.

Bret Taylor, Twitter’s Independent Board Chair, said, “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

Parag Agrawal, Twitter’s CEO, said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Mr. Musk. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”